2024-04-30T15:24:24-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 810135783 FLATHEAD ELECTRIC COOPERATIVE INC FLAT 4067514483 2510 US HIGHWAY 2 EAST KALISPELL MT 599012397 JERRY BYGREN SECRETARY/TREASURER 4067514483 2024-04-29 1 JERRY BYGREN XXX-XX-XXXX 1 LAURIE HANSON CPA P00851848 6053391999 2024-04-29 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z MARK JOHNSON 2510 US HIGHWAY 2 EAST KALISPELL MT 599012397 127227818 0 X WWW.FLATHEADELECTRIC.COM X 1939 MT TO PROVIDE RURAL ELECTRIC POWER DISTRIBUTION TO MEMBERS IN OUR SERVICE AREA. 9 9 185 0 0 0 0 0 128683773 124756323 191990 176584 1902192 2293278 130777955 127226185 52561 105728 9066386 5606841 19525112 21805884 0 0 0 104883517 97898620 133527576 125417073 -2749621 1809112 278915146 282672078 195840210 195511147 83074936 87160931 AS A MEMBER OWNED COOPERATIVE, WE STRIVE TO PROVIDE COMPETITIVE AND RELIABLE SERVICE, ACHIEVE THE HIGHEST LEVEL OF MEMBER SATISFACTION AND ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITIES. 0 0 GENERATION AND ACQUISITION OF ELECTRIC POWER FOR DISTRIBUTION TO APPROXIMATELY 58,219 MEMBERS (AS OF DECEMBER 31, 2023) ALONG 5,209 MILES OF ELECTRIC LINES, ADDING 112 MILES OF UNDERGROUND LINES, AND REMOVING 23 MILES OF OVERHEAD LINES, IN AND AROUND THE FLATHEAD VALLEY, LIBBY, ELK BASIN, AND COOKE CITY AREAS OF MONTANA. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 138 0 1 185 1 0 0 0 0 0 0 0 142971754 3088448 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X TOD YOUNG 4067514483 2510 US HIGHWAY 2 EAST KALISPELL MT 59901 X GARY BOE PRESIDENT 24.00 X X 46215 0 0 STACEY SCHNEBEL VICE PRESIDENT 18.00 X X 44867 0 0 JERRY BYGREN SECRETARY/TREASURER 19.00 X X 43801 0 0 DUANE BRAATEN TRUSTEE 16.00 X 47572 0 0 GARY CARMICHAEL TRUSTEE (BEG 11/2023) 6.00 X 6446 0 0 TERRY CROOKS TRUSTEE 15.00 X 26395 0 3441 JAY DOWNEN TRUSTEE (END 08/2023) 4.00 X 15337 0 0 ALAN RUBY TRUSTEE 15.00 X 49628 0 0 STEVE STREICH TRUSTEE 12.00 X 44068 0 0 JAKE VAN HOUTEN TRUSTEE 15.00 X 40266 0 0 MARK JOHNSON GENERAL MANAGER 50.00 X 380423 0 244960 JASON WILLIAMS ASSISTANT GENERAL MANAGER 45.00 X 234786 0 112502 TIA ROBBIN ASSISTANT GENERAL MANAGER 45.00 X 185803 0 65677 TOD YOUNG CFO/FINANCE & ACCOUNTING MANAGER 50.00 X 184849 0 119832 JOHN GOROSKI POWER, RATES & COMP MANAGER 45.00 X 191405 0 113066 BRIAN PLUNKETT ENGINEERING MANAGER 50.00 X 179735 0 116148 ALLEN THORSON OPERATIONS SUPERINTENDENT 50.00 X 172043 0 99863 JOHN HAHN JOURNEYMAN LINEMAN 42.00 X 169859 0 82393 DALANE DAKEN JOURNEYMAN LINE FOREMAN 47.00 X 158130 0 59449 2221628 0 1017331 71 0 1 0 ASPLUNDH TREE EXPERT LLC 1700 SOLUTIONS CENTER CHICAGO IL 60677 VEGETATION MANAGEMENT 1591317 ENERGYNEERING SOLUTIONS INC 15820 BARCLAY DRIVE SISTERS OR 97759 LANDFILL BUILDING EXPANSION 1182110 ASSOCIATED ARBORISTS 1760 NW EMERSON WAY MCMINNVILLE OR 97128 RIGHT OF WAY CLEARING 1126856 ROCKY MOUNTAIN CONTRACTORS INC 3268 OCEAN VIEW DRIVE HELENA MT 59602 UTILITY CONSTRUCTION 1097620 THOMPSON CONTRACTING INC 163 PORT BLVD LIBBY MT 59923 EXCAVATION & CONSTRUCTION 976160 20 SALE OF ELECTRICITY 221000 124298571 124298571 457752 457752 124756323 168594 168594 118888 525294 0 0 118888 525294 644182 644182 7990 0 7990 7990 7990 18199 1633 16566 16566 LENDER/G&T CAPITAL CREDITS 221000 1632530 1632530 1632530 127226185 126388853 0 837332 X 105728 5606841 1813407 14741383 4066579 1184515 7143556 10872034 COST OF POWER 66534324 DISTRIBUTION - MAINTENA 9878259 DISTRIBUTION - OPERATIO 5346948 CUSTOMER ACCOUNTS 4774855 -6651356 125417073 731789 50429 18985658 16362531 431068 1582335 1341738 1867565 3584129 3011949 415499228 170275430 238984951 245223798 641830 739012 14199309 13819785 14674 14674 278915146 282672078 17169957 16671626 153876533 145553860 2093804 24793720 31191857 195840210 195511147 X 0 0 4142499 4349031 78932437 82811900 83074936 87160931 278915146 282672078 X 1809112 2276883 X X 0 1 X 1 0 6439750 6439750 29829402 9213811 20615591 237113 157080 80033 22723741 12342550 10381191 356269222 148561989 207707233 245223798 DEFERRED CREDITS 29871253 MEMBER DEPOSITS 1320604 31191857 X 127209619 0 127209619 16566 16566 127226185 119793666 -16566 -16566 119810232 5606841 5606841 125417073 PART X, LINE 2: THE COOPERATIVE EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON THE INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. THE COOPERATIVE WOULD RECOGNIZE FUTURE AND ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCH G GAMING EXPENSES 16,566. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCH G GAMING EXPENSES -16,566. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2023 OPERATING MARGINS TO MEMBERS IN 2024 5,606,841. 18199 1633 0 18199 1633 1633 16566 MT 0 THERE IS NO GAMING LICENSE REQUIRED IN MONTANA. 0 1 0 0.50000 0.50000 TOD YOUNG 2510 US HIGHWAY 2E KALISPELL MT 59901 0 TOD YOUNG 175 FINANCIAL RESPONSIBILITY X 1 18259 SCHEDULE G, PART III, LINE 17B TOTAL PROCEEDS COLLECTED: $18,199 NET COST OF PRIZES: $1,633 WHERE PROCEEDS WENT: FLATHEAD FOOD BANK, COLUMBIA FALLS FOOD BANK, NORTH VALLEY FOOD BANK, BIGFORK FOOD BANK, LIBBY FOOD BANK, NW MONTANA VETERANS FOOD PANTRY, WEST SHORE FOOD BANK 1 WHITEFISH COMMUNITY FOUNDATION PO BOX 1060 WHITEFISH MT 59937 810533002 501(C)3 10380 0 COMMUNITY PROJECTS 1 0 PART I, LINE 2: THE COOPERATIVE MAY PROVIDE DONATIONS OR CONTRIBUTIONS TO ELIGIBLE NONPROFIT ORGANIZATIONS. THE COOPERATIVE DOES NOT MONITOR THE USE OF FUNDS PROVIDED. X 0 0 X X X X 0 0 0 MARK JOHNSON GENERAL MANAGER 377782 0 1602 0 1039 0 213275 0 35777 0 629475 0 0 0 JASON WILLIAMS ASSISTANT GENERAL MANAGER 231566 0 1627 0 1593 0 80557 0 35154 0 350497 0 0 0 TOD YOUNG CFO/FINANCE & ACCOUNTING MANAGER 179785 0 1809 0 3255 0 95053 0 27385 0 307287 0 0 0 JOHN GOROSKI POWER, RATES & COMP MANAGER 188113 0 1728 0 1564 0 100955 0 14793 0 307153 0 0 0 BRIAN PLUNKETT ENGINEERING MANAGER 176427 0 1626 0 1682 0 86803 0 31949 0 298487 0 0 0 ALLEN THORSON OPERATIONS SUPERINTENDENT 168535 0 1626 0 1882 0 85962 0 16365 0 274370 0 0 0 JOHN HAHN JOURNEYMAN LINEMAN 130633 0 181 0 39045 0 59886 0 24564 0 254309 0 0 0 TIA ROBBIN ASSISTANT GENERAL MANAGER 181651 0 1728 0 2424 0 43895 0 24463 0 254161 0 0 0 DALANE DAKEN JOURNEYMAN LINE FOREMAN 114895 0 133 0 43102 0 30105 0 31401 0 219636 0 0 0 PART I, LINE 1A FLATHEAD ELECTRIC COOPERATIVE, INC. SERVES A REMOTE AREA OF MONTANA THAT IS 7-12 HOURS AWAY (DEPENDING UPON THE WEATHER) FROM OUR HEADQUARTERS IN KALISPELL, MT. DUE TO THE REMOTENESS AND LACK OF TEMPORARY HOUSING, THE COOPERATIVE PURCHASED A HOME WHERE A JOURNEYMAN LINEMAN RESIDES. THE EMPLOYEE MAINTAINS THE ELECTRIC LINES AND RESPONDS TO OUTAGES. THEY RESPOND TO OUTAGES AND ARE ON CALL 24/7. PART I, LINE 1B THE EMPLOYEE IS REQUIRED TO LIVE IN THIS REMOTE AREA AS A CONDITION OF EMPLOYMENT. THE HOME'S EXPENSES ARE 100% PAID BY THE COOPERATIVE. SCHEDULE J, PART II, COLUMN (C) PART II COLUMN (C) INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR ALL PERSONS INCLUDED ON SCHEDULE J. THE ACTUAL CONTRIBUTION TO THE DEFINED BENEFIT PLAN FOR EACH RESPECTIVE EMPLOYEE IS NOT INCLUDED IN COLUMN (C). FORM 990, PART VI, SECTION A, LINE 6 MEMBERS CONSIST OF INDIVIDUALS AND BUSINESSES THAT RECEIVE ELECTRIC SERVICE FROM THE COOPERATIVE. MEMBERS RECEIVE A SHARE OF THE COOPERATIVE'S OPERATING MARGINS THROUGH AN ALLOCATION AND APPROVED RETIREMENT OF PATRONAGE CAPITAL. FORM 990, PART VI, SECTION A, LINE 7A TRUSTEE NOMINATIONS A. IN ANY YEAR IN WHICH A VACANCY IN THE OFFICE OF TRUSTEE SHALL OCCUR IN ANY DISTRICT, THERE SHALL BE NOMINATED FROM THE VACANT DISTRICT AT LEAST ONE CANDIDATE FOR THE OFFICE OF TRUSTEE. B. A CANDIDATE FOR EACH VACANCY SHALL PROVIDE NOTICE OF HIS OR HER INTEREST IN THE VACANT OR EXPIRING POSITION BY SUBMITTING A NOMINATING PETITION TO THE NOMINATING COMMITTEE OF THE BOARD AT LEAST THIRTY (30) BUSINESS DAYS BEFORE THE ANNUAL MEETING. EACH PETITION SHALL CONSIST OF THE NAME, ADDRESS, TELEPHONE NUMBER, AND ORIGINAL AND DATED SIGNATURE OF NOT LESS THAN TWENTY-FIVE (25) MEMBERS FROM THE CANDIDATE'S DISTRICT, AND SHALL BE SIGNED BY THE CANDIDATE ASSERTING THEIR QUALIFICATIONS FOR THE POSITION. C. THE NOMINATING COMMITTEE SHALL REVIEW THE PETITIONS TO DETERMINE THAT ALL SIGNERS ARE MEMBERS AND RESIDE IN SAID DISTRICT, AND THAT THE NOMINEE IS QUALIFIED TO SERVE. D. A WRITTEN PROFILE OF EACH NOMINEE SHALL BE REQUIRED. TRUSTEE ELECTIONS A. THE ELECTION OF TRUSTEES SHALL TAKE PLACE IN CONJUNCTION WITH THE ANNUAL MEETING OF THE MEMBERS AT WHICH TIME MEMBERS SHALL ELECT THE NUMBER OF TRUSTEES NECESSARY TO FILL THE POSITION OR POSITIONS OF THOSE WHOSE TERMS HAVE EXPIRED OR BEEN VACATED. B. ELECTIONS OF TRUSTEES SHALL BE DETERMINED BY A PLURALITY VOTE. IF, AFTER A RECOUNT, THERE IS A TIE FOR A TRUSTEE POSITION, THE WINNER SHALL BE DETERMINED BY A COIN TOSS. C. IF, BECAUSE OF REDISTRICTING, TWO (2) BOARD MEMBERS WHOSE TERMS HAVE NOT EXPIRED REPRESENT THE SAME DISTRICT, AN ELECTION SHALL BE HELD BETWEEN THESE TWO CURRENT BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE COOPERATIVE'S BY-LAWS REQUIRE APPROVAL BY ITS MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE FOR MAKING CHANGES TO THE COOPERATIVE'S BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE FORM 990 HAS BEEN PREPARED BY THE INDEPENDENT ACCOUNTANTS, MANAGEMENT REVIEWS THE FORM FOR ACCURACY AND COMPLETENESS. ONCE MANAGEMENT BELIEVES THE FORM IS COMPLETE AND ACCURATE, THE FORM IS SUBMITTED TO THE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. UPON RECEIVING THEIR APPROVAL, THE FORM IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT ENSURES THE ENFORCEMENT OF THE POLICY. MANAGEMENT AND THE BOARD OF TRUSTEES REVIEW ANY POTENTIAL CONFLICTS OF INTEREST, AT LEAST ANNUALLY. ANY POTENTIAL CONFLICTS ARE DISCUSSED WITH LEGAL COUNSEL IN ORDER TO DETERMINE THE APPROPRIATE FORM OF ACTION, IF NECESSARY, IN ACCORDANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE GENERAL MANAGER'S COMPENSATION AND, TO THE EXTENT POSSIBLE, COMPARES IT TO THE COMPENSATION OF GENERAL MANAGERS OF OTHER COMPARABLY-SIZED ELECTRIC COOPERATIVES WITHIN THE REGION USING AN INDEPENDENT CONSULTANT AND SURVEY INFORMATION OBTAINED FROM NRECA AND MILLIMAN. ADDITIONALLY, THE BOARD OF TRUSTEES REVIEWS THE GENERAL MANAGER'S COMPENSATION RELATIVE TO THE COMPENSATION OF OTHER EXECUTIVE-LEVEL POSITIONS WITHIN THE GEOGRAPHICAL AREA AS A MEASURE OF REASONABLENESS. AFTER CONSIDERATION OF THESE FACTORS, ALONG WITH THE PERFORMANCE OF THE INDIVIDUAL UNDER REVIEW, THE BOARD OF TRUSTEES APPROVES THE GENERAL MANAGER'S COMPENSATION PACKAGE. COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES, IF ANY, IS DETERMINED ANNUALLY BY THE GENERAL MANAGER AND ASSISTANT GENERAL MANAGERS UTILIZING DATA PREPARED BY AN INDEPENDENT CONSULTANT ALONG WITH A SALARY MATRIX AND WRITTEN PERFORMANCE EVALUATIONS. FORM 990, PART VI, SECTION C, LINE 19 SOME DOCUMENTS AND INFORMATION ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. OTHER INFORMATION IS AVAILABLE UPON REQUEST, IN ACCORDANCE WITH BOARD POLICY. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART IX, LINE 24E, STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART IX, LINE 4 STATEMENT OF FUNCTIONAL EXPENSES: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BYLAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: ALLOCATION OF 2023 OPERATING MARGINS TO MEMBERS IN 2024 5,606,841. OTHER DISBURSEMENTS -236,271. RETIREMENT OF CAPITAL CREDITS -3,093,687. FORM 990, PART XII, LINE 2C THE BOARD OF TRUSTEES IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. ROUNDUP FOR SAFETY INC 2510 HIGHWAY 2 EAST KALISPELL MT 599012397 810518152 FUND SAFETY RELATED PROJECTS IN THE COMMUNITY. MT 501(C)(3) LINE 7 FLATHEAD ELECTRIC COOPERATIVE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 ROUNDUP FOR SAFETY R 255887 CASH